Yikes folks!!
We’ve given up another 200 points on Friday, 7/27/07. Jeepers Wally!!
The DOW is down over 500 points this past week. I’m going to jump…, well, I’m going to jump to my back porch and grill me a steak!!
What a week!!
Well, remember we’re in this for the long term so hang tough. This is what happens. Be emotionally strong. There will be plenty of headlines to scare you off.
This is not the time to make the mistake of selling a mutual fund that has been doing good for you over time.
Now, we’re in the last week (or part) of July 2007. So here are some of those monthly reminders:
Savings
- Squeeze out that extra $x (where x is $10, $25, $50, $100, etc.) that you can transfer to your online savings account as described in action one.
Retirement Plan
- DON’T check your retirement portfolios
whether it’s your employer’s retirement plan or your Roth IRA. I know this might sound crazy but it could possibly keep you from making a bad decision of selling a good or great fund.
Roth IRA
- Squeeze out an extra $50 to send to Roth IRA at Excelsior Funds if you’ve done what was talked about in action three. If you have a Roth IRA already that might be at a brokerage firm, then try and send some extra $$ to it or up your monthly automatic payment to your Roth IRA by $5.00 or more.
Motivational Monday
“Have a project going all the time. Something you can work on in the evening after you get home from work.”
The above quote is from a working man who was married with two kids and who built his own airplane in his off time. After working all day, he’d come home and spend some time on the plane. After years of doing this, he successfully flew the plane.
Now, I don’t know about you but if someone has the sustained motivation to build a plane over many years to a successful conclusion then I’m sure I can find effective projects in my life that will enhance mine and maybe some other lives.
Not to mention that this could lead to a very practical action like shutting off your TV and maybe even canceling Cable TV. Which in the long run will save you money.